Hanmoo Loses Casino Contract

SOUTH KOREA – As reported by the Korea Times: "The Korea National Tourism Organization (KNTO) has decided to cancel its provisional contract with Hanmoo Convention Co., an operator of the places which the KNTO will lease to run foreigners-only casinos.

"The tourism body said yesterday that it made the decision as Hanmoo submitted false financial documents to the KNTO.

"…The casino at Hanmoo's Oakwood was scheduled to open at the end of this year, the first among the selected three.

"According to the tourism body, Hanmoo has a fixed collateral of 154 billion won, but it reported only 50 billion won on the application for the casino…"

< Gaming News